Epoch Investment Partners Inc. Raises Position in Morgan Stanley (MS)
Epoch Investment Partners Inc. lifted its holdings in shares of Morgan Stanley (NYSE:MS) by 92.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,653,836 shares of the financial services provider’s stock after acquiring an additional 4,625,783 shares during the quarter. Morgan Stanley accounts for about 1.5% of Epoch Investment Partners Inc.’s holdings, making the stock its 9th largest position. Epoch Investment Partners Inc. owned about 0.53% of Morgan Stanley worth $430,175,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of MS. Lee Danner & Bass Inc. increased its position in shares of Morgan Stanley by 0.3% during the first quarter. Lee Danner & Bass Inc. now owns 8,685 shares of the financial services provider’s stock valued at $372,000 after acquiring an additional 22 shares during the last quarter. Teza Capital Management LLC increased its position in shares of Morgan Stanley by 62.3% during the first quarter. Teza Capital Management LLC now owns 9,601 shares of the financial services provider’s stock valued at $411,000 after acquiring an additional 3,687 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Morgan Stanley during the first quarter valued at approximately $30,968,000. First Foundation Advisors purchased a new stake in shares of Morgan Stanley during the first quarter valued at approximately $699,000. Finally, Sei Investments Co. increased its position in shares of Morgan Stanley by 4.4% during the first quarter. Sei Investments Co. now owns 996,967 shares of the financial services provider’s stock valued at $42,710,000 after acquiring an additional 42,449 shares during the last quarter. 85.18% of the stock is owned by institutional investors.
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In related news, Chairman James P. Gorman sold 212,366 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $47.26, for a total value of $10,036,417.16. Following the completion of the transaction, the chairman now owns 1,602,609 shares of the company’s stock, valued at approximately $75,739,301.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jonathan Pruzan sold 25,767 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $46.68, for a total transaction of $1,202,803.56. Following the completion of the transaction, the chief financial officer now directly owns 196,708 shares of the company’s stock, valued at approximately $9,182,329.44. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
Morgan Stanley (NYSE:MS) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $9.05 billion. Morgan Stanley had a net margin of 16.77% and a return on equity of 9.83%. Morgan Stanley’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS.
Morgan Stanley declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 6.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
A number of brokerages recently commented on MS. HSBC Holdings plc set a $54.00 price target on Morgan Stanley and gave the company a “hold” rating in a research report on Friday, August 11th. Compass Point reissued a “sell” rating and issued a $38.00 target price (up from $34.00) on shares of Morgan Stanley in a research report on Monday. Macquarie reissued an “outperform” rating and issued a $52.00 target price (up from $51.00) on shares of Morgan Stanley in a research report on Saturday, July 22nd. Zacks Investment Research raised Morgan Stanley from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, J P Morgan Chase & Co set a $53.00 target price on Morgan Stanley and gave the stock a “buy” rating in a research report on Friday, September 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $48.28.
Morgan Stanley Company Profile
Morgan Stanley is a financial holding company. The Company’s segments include Institutional Securities, Wealth Management and Investment Management. The Company’s Institutional Securities business segment provides investment banking, sales and trading, and other services to corporations, governments, financial institutions and high-to-ultra high net worth clients.
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